Set up - Reviewing AR and AP Timing

Helm automatically calculates the average amount of days for receivables and payables.

When Helm imports the data from its accounting system, it reviews past actions for patterns and predicts what will happen. This means it will look at Account Receivable and Accounts Payable items and calculate the average days it takes for that invoice to be received or to pay the bill.

When setting up your initial forecast, you can easily calculate the Average Days Receivable (ADR) & Average Days Payable (ADP) with a click of a button. You can recalculate both when refreshing your connection with your accounting system.

Predicting the future based on past data is great, but we know that what happened in the past isn't necessarily going to happen in the future. So, you can change the ADR or ADP as needed by editing the timing quickly in the ADP/ADR column.

Sometimes it's easier to forecast using dates instead of customer or vendor trends, i.e., your client tells you their customer will pay you sooner or later than expected. You can change the date by clicking on the paid-on date for that AP/AR item. 

 

Alternatively, if you want to forecast by due dates, you can change the way Helm forecasts AP and AR. 

  1. Click on the gear icon next to the company name at the top left of the screen.
  2. Select the forecast tab.
  3. Select either ADR/ADP or due date for Accounts Receivable or Accounts Payable in the drop-down menu. Users find it helpful to forecast AR by ADR and AP by the due date.

For the most part, Helm does the bulk of the work and checking the items in these drawers is for those few new items or where customer or supplier patterns have changed. You can group, sort, filter and bulk edit these drawers as needed to make reviewing AR and AP easier for you.

You have now gone through the central drawers in Helm.

Next, we'll go through how we present the data in graphs and alternate views to make it easier for decision-makers to understand their cash position.